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    Earnings Shocker: Quarterly Increase In Wages Is Smallest On Record
    Debt Slaves: 7 Out Of 10 Americans Believe That Debt “Is A Necessity In Their Lives”
    Why Do So Many Working Age Americans Choose Not To Enter The Workforce?
    Why Are So Many Millennials Still In The Basement?
    Sharp Deceleration In Employment Costs Gives Fed A Reason To Delay Rate Hike
    Wages Grew In Q2 At Slowest Pace In 27 Years
    $2 A Gallon Gasoline May Be Back By New Year
    Why The Great Robot Panic Makes No Sense
    Pay Attention, Ignore The Fed
    This Is How The Much Anticipated “Second Seasonal Adjustment” Affected Q1 GDP
    US Economy Grew At 2.3% In Q2, Below Expectations, “Winter” Quarters Revised Higher On Double Seasonal Adjustments
    You Don’t Drink Treated Sewage? Gross!
    A $15-hour Minimum Wage Could Harm America’s Poorest Workers
    Even More Millennials Are Living At Home
    GDP Grows 2.3% In Second Quarter


    Did China Just Crush The U.S. Housing Market?

    A few days ago we finally closed the door on any argument who the marginal buyer in the US luxury housing segment was — the answer: Chinese oligarchs, scrambling to launder their “hot” domestic money abroad (as we predicted first two years ago) and now that Switzerland is no longer a safe offshore venue where one can park cash, they picked US luxury housing as the best money laundering alternative.

    This means that far from indicating a recovery, as the recent surge in the high end of the US housing segment had long been touted, all the relentless move higher in ultraluxury properties prices was simply a recycling of China’s hot money, which unlike in the US, never made its way into the Chinese stock market (explaining why the Shanghai Composite has barely budged in years) and merely ended up in US real estate. If anything, this is simply another confirmation of the epic capital misallocation, and the complete lack of “trickle down” resulting from failed global central banking policies.

    So now that the “who” has been answered, just one question remained: “how?”

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